(1) A person who intends to dispose of goods stored in a bonded area due to their decomposition, damage and other reasons shall obtain approval from the head of a customs office.
(2) When foreign goods stored in a bonded area are destroyed or lost, or disposed, customs duties thereon shall be collected from their manager or custodian: Provided, That this shall not apply where such foreign goods are destroyed or lost due to a disaster or other unavoidable causes, or disposed of upon prior approval by the head of a customs office.
(3) If there exist any foreign goods remaining after being disposed of upon approval obtained in accordance with paragraph (1), customs duties shall be assessed on such remainder according to the quality and quantity of such remainder.
(4) With respect to goods stored in any bonded area which fall under any of the following subparagraphs, notwithstanding paragraph (1), the head of a customs office may order an owner, shipper, person entrusted by the owner or shipper or a secondary person liable to pay duties under Articles 38 through 41 of the Framework Act on National Taxes (hereinafter referred to as "owner of goods, etc.") to return or dispose of such goods, or may dispose such goods after serving a notice thereon on the owner of goods, etc.: Provided, That when there is no time for serving such notice because of an emergency, such notice shall be served immediately after the goods are disposed of:
1. Goods likely to endanger human life or damage property;
2. Decomposed or deteriorated goods;
3. Goods whose marketable period has expired;
4. Goods whose commercial value has been lost;
5. Goods corresponding to those referred to in subparagraphs 1 through 4, prescribed by the Commissioner of the Korea Customs Service.
(5) If it is impossible to serve a notice referred to in paragraph (4) due to a failure to identify the domicile and residence of the owner of goods, etc. and other reasons, such notice may be published instead.
(6) If the head of a customs office disposes of goods or the owner of goods, etc, disposes of or returns goods in accordance with paragraphs (1) and (4), the associated cost shall be borne by the owner of goods, etc.[This Article Wholly Amended on Dec. 30, 2010]